What does a statement indicating that "the value opinion stated in the appraisal report is not adequately supported" suggest about the reviewer?

The statement indicating that "the value opinion stated in the appraisal report is not adequately supported" implies that the reviewer has assessed the appraisal and determined that the evidence or rationale provided to support the appraiser's opinion of value is insufficient or lacking. This suggests that the reviewer did not develop their own value opinion, as their role is to evaluate the reasoning behind the appraiser's conclusion rather than to generate an independent value assessment.

By identifying a lack of adequate support for the value opinion, the reviewer indicates a professional judgment about the appraisal's credibility and robustness. This approach aligns with their duty to ensure that all appraisals meet industry standards for reliability and accuracy. The focus here is on the appraisal's shortcomings, which is distinct from the generation of an alternate value opinion. Thus, the implication of the reviewer's assessment leads to the conclusion that they have not created an independent value opinion themselves.